S&P 500 Falls Again On Thursday, Inching Closer To Bear Market
The S&P 500 fell again Thursday as it inched closer to a bear market: The broad market index fell 0.58% to 3,900.79, after falling 4% on Wednesday. The index is…
Existing Home Sales Fell To The Lowest Level Since The Start Of The Pandemic
Home sales fell in April to the lowest pace since the pandemic: Existing home sales declined 2.4% compared with March to a seasonally adjusted annualized rate of 5.61 million units, the…
Stocks Claw Back on Wednesday, But Volatility Remains High
The S&P 500 rose 0.5% at the end of trading after sliding closer to bear market territory: After logging its biggest drop since June 2020 in the last session, the…
At BoA, Savings Are Double What They Were Pre-Pandemic
Andy Sieg, president of Merrill Wealth Management, says he still sees consumer savings as substantial. “When we look at checking and savings accounts across Bank of America, we see our…
Morgan Stanley Projects A 27 Percent Chance Of A Recession In The Next 12 Months.
The GIC Weekly just came out. In it: Morgan Stanley estimates a 27% chance of recession in the next 12 months, up from just 5% in March. Investor anxiety now…
Sri Lanka Runs Out Of Fuel
Sri Lanka has officially defaulted on its debt payments: The grace period for Sri Lanka to avoid defaulting on its foreign debt expired on Wednesday, as the government scrambled for…
Goldman Economist Warns US Consumers Maxing Out Credit Cards Will Lead To Late 2022 Spending Collapse
One of the steps in the progression of increased costs through the economy will be the effects as debt-utilization peaks: Here are the shocking numbers: in March, one month after…
Trucking Stocks Massacred After Target Warns Of $1 Billion In Incremental Freight Costs
The Russell 3000 Index Trucking Subsector (RGUSPTK) has dropped over 10%. Meanwhile, the S&P 500 Trucking Index (SP500-20304020) down ~11% and the Nasdaq Combined Transportation Index (TRAN) down over 5%.…
US Weekly Rail Traffic Declines 5.4%
Rail traffic down: The Association of American Railroads (AAR) has reported US rail traffic down 5.4% Y/Y to 505,120 carloads and intermodal units for the week ending May. 14, 2022.…
Jeremy Grantham sees Nasdaq and S&P 500’s drop doubling
He feels they have farther to go: Famed investor Jeremy Grantham said that he expects the S&P 500 (SP500) and the Nasdaq (COMP.IND) to fall about double from recent levels.…
